Kenya's November Inflation Drops to 5.8%
Kenya's November inflation rate slowed down to 5.8% from 6.45% in October, the lowest rate since April this year, occasioned by a decrease in the prices of food and non-alcoholic [...]
Kenya in the final stages of implementing AfCFTA
Kenya’s negotiators and implementers are in the final stages to make the Africa Continental Free Trade Area (“AfCFTA”) a reality for many Kenyan businesses. “Access to relevant and timely information [...]
Kenya's Treasury to Merge More Debt-Distressed State Corporations
Kenya's National Treasury has said plans are at advanced stages to merge Industrial and Commercial Development Corporation(ICDC), Industrial Development Bank(IDB) and Tourism Finance Corporation. The new outfit, Kenya Development Corporation, [...]
Gov't to Offer 3rd Economic Stimulus Package Worth KSh26.2 Billion
The Government of Kenya has announced plans to offer a third economic stimulus package worth KSh26.2 billion, seeking to aid the recovery of key economy sectors affected by the global COVID-19 pandemic. [...]Kenya's Economic Growth Rebounds by 10.1% in Q2, 2021
Kenya recorded an accelerated growth in Gross Domestic Product (GDP) of 10.1% compared to a contraction of 4.7% in the same quarter of 2020. According to the latest statistical report [...]Kenya explores Central Bank Digital Currency for cross-border payments
Kenya is exploring the use of central bank digital currency (CBDC) to settle cross-border payments according to the country's Central Bank Governor Dr Patrick Njoroge. A Central bank digital currency [...]Uganda Loses $720 Million on the Back of New 5% Tax on Gold Exports
Uganda has lost an estimated $720 million in missed gold exports since July this year as exporters boycott a new tax. In April, the government imposed a levy of 5% [...]Tanzania to Borrow $2.34 Billion for 2022/2023 Budget
Tanzania has announced plans to borrow at least $2.34 billion from foreign sources to finance its proposed 2022/2023 budget of $17.1 billion. According to Finance minister Mwigulu Nchemba, 7.7% ($1.32 [...]IMF Completes Review of its 3-year Lending Programme to Kenya
The International Monetary Fund (IMF) has completed its second review of Kenya's 38-months lending programme. This follows approval by the IMF Board in April this year of a US$2.34 billion [...]KRA Collects KSh 154.4 Billion in Q2, 2021/22
Kenya Revenue Authority(KRA) collected KSh 154.383 Billion in Q2, 2021/22 financial year, a performance rate of 108.5% and a growth of 23.2% from a KSh 142.285 Billion target. KRA began [...]World Bank Offers $150 Million to Kenya for Drought Mitigation
The World Bank, in partnership with the Government of Sweden (Sida) and Government of Denmark (DANIDA), has announced plans to give $150 million to Kenya, aiming at mitigating the impact [...]Kenya's President Kenyatta spells Crucial Interventions for the Banking Sector
President Uhuru Kenyatta has urged the country's National Treasury and other stakeholders to immediately revise upwards the cash transactions threshold for KSh 1.0 Million applicable to both withdrawals and deposits [...]
